THFC reports highest pre-tax surplus in 37-year history

The aggregator said the results “provide the foundation” for THFC to “embark on the next phase of its corporate strategy”, which centres on “growth and delivering new innovative financial solutions”.

As part of its plan, THFC said it will focus on unlocking new forms of private capital and creating new partnerships between the market and the sector. The aim is to develop a “much broader suite of financial solutions” for housing associations. 

The aggregator has also expanded its senior leadership team, with roles focused on finance, sustainability, risk and operations, strategy and people.

Arun Poobalasingam has taken up a new role of chief partnerships officer, responsible for relationship management, product and business development.

Gavin Richards has been promoted to head of relationship management, while Hedley Hadfield has joined as relationship manager.

Priya Nair, chief executive of THFC, said: “THFC was born 37 years ago and the landscape has altered dramatically since then.

“Housing associations’ mandates are more complex than ever before and borrowing capacity remains  constrained. 

“This calls for innovation and that is what THFC’s new corporate strategy is focused on.

“Our latest financial results, alongside our unique, trusted position in the market, positions us perfectly to deliver.

“Our ambition is to play a central role in catalysing a wider range of financial solutions, to unlock new forms of private capital and meet the diverse needs of our client base.”

Mr Poobalasingam, chief partnerships officer at THFC, said: “Ultimately, THFC is focused on delivering social value and helping to solve the housing crisis. To turn the dial, more innovative financial solutions are needed. 

“Partnerships will be key and that is why they lie at the heart of our strategy – partnerships with investors, with HAs and with policymakers.”

In June, THFC agreed to lend £20m to Acis Group to support the landlord’s development and asset management plans.

In May, the aggregator secured a £30m deal for a subsidiary of Abri Group.

Last month, it emerged that two executive directors had resigned from THFC. It said it had started the process of recruiting a chief risk and operations officer and chief finance officer.

“In the meantime, their responsibilities will be overseen by existing experienced permanent and interim resources,” THFC said.